Lafarge Africa Grows Profit by 96% to N100bn in 2024
Lafarge Africa Plc grew profit by 96% to N100.145 billion in 2024, details from the cement company audited result has revealed. The surge was driven by a better year on year top line performance amidst increased rivalry in the cement market.
The cement company’s sales hit N697 billion, Mr Lolu Alade-Akinyemi, the Chief Executive Officer, Lafarge Africa, said in the company audited report released on the Nigerian Exchange.
He said its net sales in 2024 was up by 72 per cent year-on-year due to improved volume and that in the fourth quarter of 2024, it went up by 86 per cent. He said the company’s net sales stood at N405.50 billion in 2023 with PAT of N51.14 billion. Alade-Akinyemi said the company would continue to focus on increasing its product range, on sustainability, health and safety.
“I am excited to report our record-breaking revenue of N697 billion and PAT of N100 billion for full year 2024, a testament to our strong market positioning, operational efficiency, cost management and dedication to value creation.
“In spite of a challenging business environment, we have remained resilient, leveraging innovation and green growth in line with our sustainability ambitions, while also delivering value to our stakeholders.
“Lafarge Africa Plc remains committed to strengthening its leadership position in offering environmental friendly building solutions, while driving long-term profitability,” he said.
He lauded its customers, employees and stakeholders for their commitment in spite of the macroeconomic headwinds being experienced in the industry. He noted that the Nigerian Infrastructure and Construction Sector was expected to continue to grow in spite of inflationary pressure on purchasing power.
“As a result, we maintain our positive outlook for 2025, with market recovery expected to continue at similar growth with 2024.
“We will continue to maximise volume opportunities across our markets and actively manage our costs.
“We remain committed to our sustainability ambitions and strategy of ‘Accelerating Green Growth’ through innovative building solutions and delivery of stakeholder value,” he said. #Lafarge Africa Grows Profit by 96% to N100bn in 2024 Oil Prices Increase amidst Shipping Routes Threats
